Muthoot Finance spends Rs. 81 Cr towards CSR – Corporate Social Responsibility in FY22

Prioritizing the health, education, livelihood needs of disadvantaged and needy people with a particular focus on green initiatives in their CSR book 2021-22

New Delhi: Muthoot Finance, India’s largest NBFC gold lending company, has demonstrated its dedication to the socio-economic development of society and has reached over 4.5 lakh beneficiaries under its CSR initiatives in 2021-2022 .

The company declared a total expenditure of Rs. 81.14 Crores on corporate social responsibility initiatives which extended to delivery of COVID essentials during the second wave of the pandemic, education, healthcare, livelihoods and skills, infrastructure initiatives as well as sports development projects.

The Muthoot Group and its flagship company Muthoot Finance have always been actively involved in a plethora of CSR initiatives in areas such as education, environment, sanitation, health, medical aid as well as financial aid for the betterment of society.

Muthoot Finance’s CSR activities have assisted over 3.25 lakh underserved and needy people with food distribution and rations support and around 53,000 people have been positively impacted by healthcare initiatives alone. The outreach initiatives have supported over 5,000 underprivileged students by providing basic equipment and aids as well as livelihood support for the weakest sections of society.

These initiatives have been implemented in association with many grassroots social organizations, including the National Association of the Blind, Center for Studies of Blind Women and Persons with Disabilities (New Delhi), Red Cross, Delhi Police for Education, Habitat for Humanity, Earth Savior Foundation. , Think Rise and Act Foundation, YMCA Mumbai among others.

Within the series of these initiatives, some notable activities included:

Health care

In response to the pandemic, Muthoot Finance provided a 16-bed COVID hospital set up for Kanpur Police which has assisted around 7,000 people. The Snehasaraya Mobile Medical Van provided COVID tests to over 7,100 people. Muthoot also provided a pick-up and drop-off facility for COVID vaccinations for around 7,200 people. They have supported 15 PAN India hospitals with medical equipment like beds, wheelchairs and also donated face masks, hand sanitizer, gloves and face shields to 94,000 people.

Distribution of food and rations

Muthoot Finance supported Indian Food Banking Network and provided food kits, nutrition kits and drink packs to around 37,000 people. 50 families uprooted due to the demolition of Yamuna Bank area in New Delhi received a ration for 3 days. In association with the ANAMARTIA Foundation, 7,000 packets of ready-to-eat food were distributed to the poorest. More than 2.67 lakh under the privileged were supported by cooked and dry rations.

Environment

As part of the green initiatives, the company provided the Indian Center for Studies on Blind Women and Persons with Disabilities of the National Association of the Blind (NAB) with 24 KW solar panels. 500 fruit seedlings were distributed to 50 tribal farmers in Asegaon Mokhada, Palgarh district of Maharashtra.

Education

Sponsorship for the education of 40 girls studying at Deepalaya Senior Secondary School, Gusbethi. Also, distribution of educational kits to 152 children with special needs. Initiatives have been taken to promote education among slum children in the Delhi Cantt Slum area. In this context, 110 educational kits consisting of notebooks, geometry boxes, a drawing book and one-litre steel water bottles (in order to reduce the use of plastic bottles) were distributed to slum children.

Support for people with disabilities

As part of this initiative, 104 people benefited from the distribution of wheelchairs to support themselves, improve their skills and promote sport among people with disabilities.

Support for sustainable livelihoods

To promote self-employment practices and sustainable livelihoods, 5 Self-Help Groups (SHGs) received scanning machines, raw materials for making papad, pickles, namkeen and an electronic cart for transportation of SHG products. Tricycles, hand rickshaws were also given to weaker sections, migrants across Punjab and Delhi regions.

Duties and responsibilities towards societal development

Alexander George Muthoot, Co-Chief Executive Officer, The Muthoot Group, said: “In an effort to reach marginalized sections of communities across the country, our CSR initiatives in 2021-2022 have been a real success. We understand our duties and responsibilities towards the development of society. From the very beginning, we have served as a helping hand for the development of our company. We will continue to strengthen, empower and uplift our society by playing our part in the overall development of our country and its people. We remain firmly committed to supporting the weakest sections of our society through our continued support.

Also Read: Muthoot Finance Archives – India CSR Network

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